吴说获悉，据 Digital Today，韩国虚拟资产交易所市场中 Upbit 的"高度集中"格局出现缓解，Bithumb 市占率明显回升。数据显示，2025 年第四季度韩国五大韩元交易所总交易额约 402 万亿韩元，其中 Upbit 市占率降至 65%（2024 年末接近 80%），Bithumb 升至 31.1%，一年内提升约 10 个百分点。其 余交易所 Coinone、Korbit、Gopax 合计市占率不足 4%，流动性仍高度集中于前两大平台。 （来源：吴说） ...

🇬🇭 ADOPTION: Ghana’s has passed the Virtual Asset Service Providers Bill, legalizing and regulating crypto. https://t.co/sBQzFulKC4 ...

Core Viewpoint - HashKey Holdings (03887) experienced a volatile first day of trading, opening high but closing down over 7%, indicating market skepticism about its valuation and future profitability [1] Company Overview - HashKey Exchange is the first licensed virtual asset trading platform in Hong Kong aimed at retail users, holding licenses for Type 1 (Securities Trading) and Type 7 (Automated Trading Services) from the Hong Kong Securities and Futures Commission [1] - According to Frost & Sullivan, the company is projected to be the largest regional onshore platform in Asia by trading volume in 2024 [1] - It is also the largest on-chain service provider in Asia by staked assets and the largest digital asset management institution by assets under management [1] Financial Performance - The company reported revenues of HKD 129 million, HKD 208 million, and HKD 721 million for the years 2022, 2023, and 2024 respectively, while incurring losses of HKD 585 million, HKD 580 million, and HKD 1.19 billion for the same years [1] - For the first six months of 2025, the company achieved revenue of HKD 284 million but recorded a loss of HKD 507 million, indicating it has not yet reached profitability [1] Market Reception - During the public offering phase, HashKey received a subscription rate of 393.71 times, with 10% of the offering allocated to Hong Kong and 90% to international placements [1] - Post-listing, the company's market capitalization is approximately HKD 13.4 billion, with the IPO price corresponding to a price-to-sales ratio of about 18.6 times for 2024 revenue, suggesting a high valuation [1]

🇭🇰 LATEST: Hong Kong SFC reports virtual asset spot ETFs hit $920M in market cap in Q3, while tokenized money market funds surged 391% QoQ. https://t.co/tYjGikqUsJ ...

Getting started in Pakistan 🇵🇰#Binance#BNBUmair Nauman (@UmairNauman_):🇵🇰 BREAKING:Pakistan Virtual Assets Regulatory Authority (PVARA) has issued No Objection Certificates (NOCs) to #Binance and HTX. https://t.co/XjWxipFCs1 ...

Interpreting China's Latest Policy Signals on Virtual Assets - Any Impact on Hong Kong?Since 2017, mainland China’s ban on cryptocurrency-related activities has never wavered, and authorities reiterate it almost every year. The meeting does not expand the legal prohibitions. It strengthens enforcement under the framework established in 2021, when crypto activities were formally defined as illegal financial activity. Hong Kong continues its open, rules-based framework — including stablecoin legislation and R ...

“Education is the key to long-term trust and we want people to understand what they are buying and how to keep their assets safe.” - Major Faisal Al Yaaquobi, Head of Virtual Assets Division, Ministry of Interior UAE https://t.co/MeHPPMNKDP ...

On Nov. 28, China’s central bank (PBOC) convened a coordination meeting and reiterated that: Virtual assets do not have the same legal status as fiat, are not legal tender, and must not be used as currency in market circulation; related business activities constitute illegal financial activity. Stablecoins are a form of virtual asset and currently cannot effectively meet KYC/AML requirements, posing risks of money laundering, fundraising fraud, and illicit cross-border capital transfers. https://t.co/r8V7dU ...

South Korea’s 2027 virtual-asset tax plan may face another delay due to unclear rules on taxing airdrops, staking and overseas trades, as well as insufficient tracking infrastructure for users on foreign exchanges. Experts warn that repeated postponements could erode policy credibility and urge the government to establish a dedicated task force to complete the framework. https://t.co/0jEt7IAO65 ...

Core Insights - Ant Group has applied for trademarks related to virtual assets and blockchain technology in Hong Kong, including "ANTCOIN" [1][2] - The applications cover online payments, electronic wallets, foreign exchange services, and stablecoins [2] - The trademark filings are seen as a strategic move to protect Ant Group's interests in the virtual asset sector [3] Company Developments - The ANTCOIN trademark application was submitted in June and is currently pending [1] - In July, Ant Group partnered with Circle to pilot USDC-based cross-border payments, integrating a regulated stablecoin into its payment infrastructure [5] - In September, Ant Digital Technologies launched a blockchain platform to tokenize energy assets in China, linking approximately $8 billion worth of infrastructure to on-chain systems [6] Industry Context - Major tech firms, including Ant Group, were reportedly ordered to suspend stablecoin initiatives in Hong Kong in October 2025 [4] - Traditional financial institutions globally are moving towards stablecoin adoption, with Japan's major banks planning to issue stablecoins and North Dakota announcing a state-backed stablecoin [7]